Khaw Boon Wan: I cannot remove COV

Responding to Internet users on his Facebook page on National Day, Mr Khaw explained that these premiums, also known as cash-over-valuations (COVs), are determined by buyers and sellers and cannot be removed. -- PHOTO: BLOOMBERG By Jessica Cheam NATIONAL Development Minister Khaw Boon Wan has made clear his position on cash premiums that HDB flat buyers pay to sellers: he cannot abolish them. Responding to Internet users on his Facebook page on National Day, Mr Khaw explained that these premiums, also known as cash-over-valuations (COVs), are determined by buyers and sellers and cannot be removed. Mr Khaw had posted a National Day celebration update and engaged with netizens on a few issues ranging from housing prices to recessions over an hour. Read the full report in Thursday's edition of The Straits Times Please enable JavaScript to view the comments powered by Disqus. ...